[Preliminary Fiscal 2024 Third-Quarter Results Overview](index=1&type=section&id=Preliminary%20Fiscal%202024%20Third-Quarter%20Results%20Overview) [Management Commentary](index=1&type=section&id=Management%20Commentary) Management highlighted strong Q3 results in core segments, despite accounting delays, focusing on operational excellence and deleveraging - The core Salt and Plant Nutrition businesses produced **strong Q3 results**, with Salt showing robust earnings potential and Plant Nutrition improving prices and margins[3](index=3&type=chunk) - The company's strategic focus is on building a culture of **operational excellence**, improving cash generation, and deleveraging the balance sheet[3](index=3&type=chunk) - Financial results release was **delayed due to historical accounting issues**, which management finds disappointing[3](index=3&type=chunk) [Financial Restatement Update](index=2&type=section&id=Financial%20Restatement%20Update) Company is undergoing financial restatement for multiple periods due to misstatements, primarily from Fortress North America acquisition - The company identified **misstatements and material weaknesses** in financial statements for periods from June 30, 2023, to March 31, 2024[4](index=4&type=chunk) - Misstatements primarily relate to **contingent consideration from Fortress North America acquisition**, but do not materially impact adjusted EBITDA or core business fundamentals[4](index=4&type=chunk) - The restatement process requires **additional audit procedures for fiscal years 2021-2023**, prolonging the process and delaying the Q3 2024 Form 10-Q filing[5](index=5&type=chunk) [Preliminary Quarterly Financial Results](index=3&type=section&id=Preliminary%20Quarterly%20Financial%20Results) Q3 2024 preliminary results show revenue of **$202.9 million**, a net loss of **$43.6 million**, and adjusted EBITDA of **$32.8 million** Preliminary Q3 2024 Financial Results (Three Months Ended June 30, 2024) | Metric | Value (in millions, except per share data) | | :--- | :--- | | Revenue | $202.9 | | Operating earnings | $5.9 | | Adjusted operating earnings | $7.4 | | Adjusted EBITDA | $32.8 | | Net loss | $(43.6) | | Net loss per diluted share | $(1.05) | | Adjusted net loss | $(42.1) | | Adjusted net loss per diluted share | $(1.01) | - The Salt segment delivered **strong performance** with an adjusted EBITDA per ton of **$28.05**[8](index=8&type=chunk) - The average sales price for sulfate of potash increased for the **second consecutive quarter to $691.27 per ton**[8](index=8&type=chunk) [Business Segment Performance](index=3&type=section&id=Business%20Segment%20Performance) [Salt Business Summary](index=3&type=section&id=Salt%20Business%20Summary) The Salt segment generated preliminary Q3 2024 revenue of **$160.6 million** and adjusted EBITDA of **$41.6 million**, with strong **$28.05** adjusted EBITDA per ton Salt Segment Preliminary Q3 2024 Performance | Metric | Value (in millions, tons, or per ton) | | :--- | :--- | | Revenue | $160.6 million | | Operating Earnings | $25.9 million | | Adjusted EBITDA | $41.6 million | | Adjusted EBITDA per ton | $28.05 | | Highway Deicing Sales Volume | 1.09 million tons | | Highway Deicing Avg. Selling Price | $77.20 per ton | | C&I Sales Volume | 393 thousand tons | | C&I Avg. Selling Price | $194.35 per ton | [Plant Nutrition Business Summary](index=4&type=section&id=Plant%20Nutrition%20Business%20Summary) The Plant Nutrition segment reported a preliminary Q3 operating loss of **$1.4 million**, adjusted EBITDA of **$7.2 million**, and revenue of **$38.8 million** Plant Nutrition Segment Preliminary Q3 2024 Performance | Metric | Value (in millions, tons, or per ton) | | :--- | :--- | | Revenue | $38.8 million | | Operating Loss | $(1.4) million | | Adjusted EBITDA | $7.2 million | | Sales Volumes | 56 thousand tons | | Average Sales Price | $691.27 per ton | [Fortress North America Update](index=4&type=section&id=Fortress%20North%20America%20Update) Company is evaluating strategic alternatives for Fortress North America and remains in discussions with USFS regarding fire retardant testing - The company is actively evaluating various **strategic alternatives for Fortress North America**[11](index=11&type=chunk) - Discussions are ongoing with the **U.S. Forest Service (USFS)** concerning the testing of aerial fire retardants[11](index=11&type=chunk) [Financial Position and 2024 Outlook](index=4&type=section&id=Financial%20Position%20and%202024%20Outlook) [Financial Position and Liquidity](index=4&type=section&id=Financial%20Position%20and%20Liquidity) As of June 30, 2024, total liquidity was **$220.8 million**, with a net leverage ratio of **4.3 times**, and credit agreements were amended due to restatement Liquidity Position as of June 30, 2024 | Component | Value (in millions) | | :--- | :--- | | Cash and cash equivalents | $12.8 | | Revolving credit facility availability | $208.0 | | **Total Liquidity** | **$220.8** | - The preliminary consolidated total net leverage ratio was **4.3 times**, remaining within the **6.5 times** covenant[12](index=12&type=chunk) [Preliminary Updated 2024 Outlook](index=4&type=section&id=Preliminary%20Updated%202024%20Outlook) The company updated its 2024 outlook, raising Salt segment adjusted EBITDA to **$215-$225 million** and revising Plant Nutrition to **$21-$26 million** [Salt Segment Outlook](index=4&type=section&id=Salt%20Segment%20Outlook) The Salt segment's 2024 adjusted EBITDA guidance was raised to **$215-$225 million** due to lower Goderich mine curtailment costs 2024 Salt Segment Outlook | Metric | 2024 Range (k tons or millions) | | :--- | :--- | | Highway deicing sales volumes (k tons) | 7,400 - 7,500 | | C&I sales volumes (k tons) | 1,800 - 1,900 | | Total salt sales volumes (k tons) | 9,200 - 9,400 | | Revenue (in millions) | $900 - $910 | | Adj. EBITDA (in millions) | $215 - $225 | - The improved adjusted EBITDA outlook is due to **lower anticipated costs** in 2024 related to the curtailment of the Goderich mine[15](index=15&type=chunk) [2024/2025 North American Bid Season](index=5&type=section&id=2024%2F2025%20North%20American%20Bid%20Season) For 2024/2025, average contract selling price is expected to be **2% lower**, with market bid volumes down **7-10%** due to high inventory - Average contract selling price for the 2024/2025 winter season is expected to be approximately **2% lower** than fiscal 2024[16](index=16&type=chunk) - Market bid volumes are expected to be **down 7% to 10%** compared to fiscal 2024, consistent with high inventory levels[16](index=16&type=chunk) [Plant Nutrition Segment Outlook](index=5&type=section&id=Plant%20Nutrition%20Segment%20Outlook) Plant Nutrition segment's 2024 guidance revised to **$21-$26 million** adjusted EBITDA due to lower volumes and higher costs, partially offset by pricing 2024 Plant Nutrition Segment Outlook | Metric | 2024 Range (k tons or millions) | | :--- | :--- | | Sales volumes (k tons) | 265 - 275 | | Revenue (in millions) | $175 - $185 | | Adj. EBITDA (in millions) | $21 - $26 | [Consolidated Outlook and Capital Expenditures](index=6&type=section&id=Consolidated%20Outlook%20and%20Capital%20Expenditures) Total company 2024 adjusted EBITDA is projected at **$195-$216 million**, with capital expenditures unchanged at **$115-$130 million** Total Compass Minerals 2024 Outlook | Metric | 2024 Range (in millions) | | :--- | :--- | | **Adj. EBITDA** | **$195 - $216** | | **Capital Expenditures** | **$115 - $130** | 2024 Capital Expenditures Breakdown | Category | Amount (in millions) | | :--- | :--- | | Sustaining | $80 - $90 | | Lithium | ~$30 | | Fortress | $5 - $10 | | **Total** | **$115 - $130** | [Other Assumptions](index=6&type=section&id=Other%20Assumptions) The 2024 outlook includes assumptions for DDA of **$100-$110 million**, net interest expense of **$65-$70 million**, and an effective tax rate of **(25%)-(20%)** 2024 Other Financial Assumptions | Metric | 2024 Range (in millions or percentage) | | :--- | :--- | | Depreciation, depletion and amortization | $100 - $110 | | Interest expense, net | $65 - $70 | | Effective income tax rate (excl. items) | (25%) - (20%) | [Financial Statements and Reconciliations](index=8&type=section&id=Financial%20Statements%20and%20Reconciliations) [Non-GAAP Measures Explanation](index=8&type=section&id=Non-GAAP%20Measures%20Explanation) Company uses non-GAAP measures like Adjusted EBITDA to evaluate core operational performance by excluding non-indicative items, supplementing GAAP figures - Management uses non-GAAP measures like **Adjusted EBITDA** to evaluate core business operating performance, as financing and taxes are managed corporately[27](index=27&type=chunk) - Adjusted metrics eliminate the impact of items not indicative of underlying operating performance, aiding year-over-year normalized comparisons[29](index=29&type=chunk) [Reconciliations of Non-GAAP Measures](index=10&type=section&id=Reconciliations%20of%20Non-GAAP%20Measures) This section provides detailed GAAP to non-GAAP reconciliations for Q3 2024, including adjustments for restructuring charges, leading to adjusted operating earnings and EBITDA Reconciliation for Adjusted Operating Earnings (Q3 2024) | Item (in millions) | Amount | | :--- | :--- | | Operating earnings (GAAP) | $5.9 | | Restructuring charges | $1.5 | | **Adjusted operating earnings (Non-GAAP)** | **$7.4** | Reconciliation for Adjusted Net Loss (Q3 2024) | Item (in millions) | Amount | | :--- | :--- | | Net loss (GAAP) | $(43.6) | | Restructuring charges | $1.5 | | **Adjusted net loss (Non-GAAP)** | **$(42.1)** | Reconciliation to Adjusted EBITDA (Q3 2024) | Item (in millions) | Amount | | :--- | :--- | | Net loss (GAAP) | $(43.6) | | Interest expense | $17.2 | | Income tax expense | $32.7 | | Depreciation, depletion and amortization | $26.1 | | **EBITDA (Non-GAAP)** | **$32.4** | | Adjustments | $0.4 | | **Adjusted EBITDA (Non-GAAP)** | **$32.8** | [Consolidated Financial Statements](index=13&type=section&id=Consolidated%20Financial%20Statements) Preliminary consolidated financial statements for Q3 2024 show **$202.9 million** in sales, a **$43.6 million** net loss, and **$1,595.2 million** in total assets [Consolidated Statements of Operations](index=13&type=section&id=Consolidated%20Statements%20of%20Operations) Q3 2024 consolidated operations show **$202.9 million** in sales, **$32.6 million** gross profit, and a **$43.6 million** net loss Consolidated Statement of Operations (Q3 2024, in millions) | Line Item | Amount | | :--- | :--- | | Sales | $202.9 | | Gross profit | $32.6 | | Operating earnings | $5.9 | | Loss before income taxes | $(10.9) | | **Net loss** | **$(43.6)** | | **Diluted net loss per common share** | **$(1.05)** | [Condensed Consolidated Balance Sheets](index=14&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2024, total assets were **$1,595.2 million**, with **$1,243.1 million** in liabilities and **$352.1 million** in stockholders' equity Condensed Balance Sheet (June 30, 2024, in millions) | Category | Amount | | :--- | :--- | | **Total Assets** | **$1,595.2** | | Cash and cash equivalents | $12.8 | | Inventories | $407.5 | | Property, plant and equipment, net | $787.9 | | **Total Liabilities** | **$1,243.1** | | Long-term debt, net of current portion | $868.8 | | **Total Stockholders' Equity** | **$352.1** | [Segment Information](index=15&type=section&id=Segment%20Information) Q3 2024 segment information shows Salt as the primary revenue driver with **$160.6 million** in sales and **$25.9 million** operating earnings Segment Information (Three Months Ended June 30, 2024, in millions) | Segment | Sales to External Customers | Operating Earnings (Loss) | Total Assets (as of end of period) | | :--- | :--- | :--- | :--- | | Salt | $160.6 | $25.9 | $1,013.3 | | Plant Nutrition | $38.8 | $(1.4) | $408.1 | | Corporate & Other | $3.5 | $(18.6) | $173.8 | | **Total** | **$202.9** | **$5.9** | **$1,595.2** |

BAODING, China, Aug. 12, 2024 /PRNewswire/ -- IT Tech Packaging, Inc. (NYSE American: ITP) ("IT Tech Packaging" or the "Company"), a leading manufacturer and distributor of diversified paper products in North China, today announced its unaudited financial results for the second quarter ended June 30, 2024. | --- | --- | --- | --- | |-------------------------------------------------|-----------|-------------|-------------------------------------| | | | | | | Second Quarter 2024 Unaudited Financial Results | ...

Valuation Metrics - CMP has a forward P/E ratio of 22.52, while TROX has a forward P/E of 25.98. CMP's PEG ratio is 0.55, indicating a more favorable valuation compared to TROX's PEG ratio of 21.12 [1][3] - CMP's P/B ratio is 1.32, compared to TROX's P/B of 1.42, suggesting CMP is relatively undervalued based on book value [2] Investment Outlook - CMP has a Zacks Rank of 2 (Buy), indicating a stronger earnings outlook compared to TROX, which has a Zacks Rank of 4 (Sell) [4] - The improving earnings outlook for CMP makes it a more attractive option for value investors [3][4] Value Assessment - The Value category of the Style Scores system identifies undervalued companies using key metrics such as P/E ratio, P/S ratio, earnings yield, and cash flow per share [5] - A strong Zacks Rank combined with a high Value grade is essential for identifying great value stocks [7]

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks. One company to watch right now is Compass Minerals International (CMP) . CMP is currently sporting a Zacks Rank of #2 (Buy), as well as a Value grade of A. Value investors also use the P/S ratio. The P/S ratio is is calculated as price divided by sales. Some people prefer th ...

PERTH, Australia, July 8, 2024 /PRNewswire/ - Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) ("Hot Chili" or the "Company") is pleased to announce the establishment of Huasco Water, a new joint venture water company (Hot Chili 80% and CMP 20%) formed to supply both sea water and desalinated water to the Huasco Valley region of Chile. Highlights Figure 1. Location of a conceptual multi-user, desalination water network in relation to infrastructure and potential customers in the Huasco valley region ...

Attorney Advertising. Prior results do not guarantee a similar outcome. NEW YORK, June 22, 2024 (GLOBE NEWSWIRE) -- No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. ___________________ WHY: Rosen Law Firm, a global invest ...

Investor Deadline: Investors who purchased or acquired Compass Minerals securities during the Class Period may, no later than June 24, 2024, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation, please contact Berger Montague: James Maro at jmaro@bm.net or (267) 637-3176, or Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or CLICK HERE. Following this news, the price of Compass Minerals stock fell $3.00 ...

If you suffered a loss on your Compass investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Compass-Minerals-International-Inc-1/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights. On this news, Compass's stock price fell $3.00, or 17.1%, to close at $1 ...

NEW YORK, June 18, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Compass Minerals International, Inc. (NYSE: CMP). ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Compass Minerals overstated the likelihood that it would be awarded a renewed U.S. Forest Service contract for the use of its proprietary magnesium chloridebased aerial fire retardants fo ...

LOS ANGELES, June 18, 2024 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Compass Minerals International, Inc. ("Compass Minerals" or "the Company") (NYSE: CMP) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between November 29, 2023 and March 22, 2024, in ...